Accounting question and answers for November 25, 2023
- Q Milton Consulting completed the following petty cash transactions during February 2014: Feb. 2 Prepared a $500 cheque, cashed it, and gave the proceeds and the petty cash box to...
- Q Just use your Excel regression results and type up a Word document with your answers to these questions Susan lewis owner of a florist shop is interested in predicting the...
- Q Contribution Margin and Contribution Margin Ratio For a recent year, Wicker Company-owned restaurants had the following sales and expenses (in millions): Sales $31,800 Food and...
- Q 1 Mr. Agirich of Aggie Farms is thinking about investing in a center pivot irrigation system to irrigate 100 acres of land. The irrigation system costs $70,000....
- Q Bad Debt Expense Flash Co. makes all of its sales on account and uses the allowance method to account for uncollectible accounts. On January 1, 2020, Flashs accounts receivable were...
- Q Your client performs a stocktake, which involves vouching from the inventory report to the goods in the warehouse as well as tracing from the goods in the warehouse to the...
- Q On January 1,2025, Concord Company borrows $2860000 fron National Bank at 10% annual interest. In addition, Concord is required to keep compensating balance of $240000 on deposit at...
- Q In which funds would the additional revenues and expenditures be budgeted and accounted for? Government activities may be less profitable than they appear. A city prepares its budget...
- Q Within AASB 101 there is a prohibition on disclosing extraordinary items, provide an assessment of the merits of this prohibition.
- Q Noland Company fabrica dos modelos de su banjo, el Basic y el Luxury. El modelo Bsico requiere 10000 horas de mano de obra directa y el Lujo requiere 30000...
- Q Pick a reasonable annual salary for where you live and your desired career. Please include the city and state. As an independent person, your salary will...
- Q J&W Corporation manufactures a new electronic game console. The current standard cost sheet for a game console follows: ...
- Q ABC Company est pensando en introducir una nueva raqueta de tenis de alta calidad en su lnea de productos. Con base en el anlisis de mercado realizado, ABC...
- Q This question builds on prior studies and relates to learning material and objectives from Topic 6. Jupiter Australasia Ltd owns Victory Mowers a manufacturer of gardening equipment...
- Q Joy Company uses LIFO inventory valuation method and reports the following: 2019 Assets 2019 Inventory 2019 LIFO Reserve ...
- Q MSI is considering eliminating a product from its ToddleTown Tours collection. This collection is aimed at children one to three years of age and includes tours of a hypothetical town....
- Q 1. Under current US GAAP, which of the following costs may be capitalized for self-constructed assets? a. Direct materials and direct labor only b. Direct materials, direct labor and variable...
- Q You have been hired as a consultant to advise on how to present the tax differences between books and tax returns on the balance sheet of RFH company. There are...
- Q Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be classified as direct materials cost, direct...
- Q Third Corp. agreed to purchase goods from Silk Corp. Third could not pay for the goods immediately. A draft was then drawn by Silk ordering Third to pay Silk the...
- Q Required information Skip to question [The following information applies to the questions displayed below.] Onslow Co. purchases a used machine for $240,000 cash on January 2 and...
- Q A cement manufacturer has supplied the following data: Tons of cement produced and sold ...
- Q Cabinaire Inc. is one of the largest manufacturers of office furniture in the United States. In Grand Rapids, Michigan, it assembles filing cabinets in an Assembly Department. Assume the following...
- Q The Following Information/Schedule sets forth the Current Portion & Long-Term Portion of the Debt and the Shareholders Equity of the Humza Mohammed Corporation as at December 31st, 20X2. The President...
- Q Mwinenkoma & Mwinlanaa Electronics Plc (MMEP) has its Chief Financial Officer is having MMEP recapitalization plan. The officer wants to change the capital structure of the firm, MMEP, to have...
- Q Question 3: (19 points) Quality Kitchen Companys 2021 single-step income statement and comparative balance sheet are provided below: QUALITY KITCHEN COMPANY Income Statement Year Ended December 31, 2021 Revenue $...
- Q Problem 13-12 Sunland Music Emporium carries a wide variety of musical instruments, sound reproduction equipment, recorded music, and sheet music. Sunland uses two sales promotion techniqueswarranties and premiumsto attract customers....
- Q Assume you work in the accounting department of Caesars Entertainment and your supervisor, Ashton Willow, provides you with the attached Excel file containing food and beverage costs and the number...
- Q 5. The journal entry to record a return of merchandise purchased on account under a perpetual inventory system would credit a. Accounts Payable. b. Purchase Returns and Allowances....
- Q ACTIVIDAD DE DISCUSIN Su organizacin manufacturera tiene una nmina quincenal, pagando el da 15 y ltimo de cada mes. Su organizacin paga a los empleados en la Columbia Britnica. En...
- Q In 2019, Pharoah Enterprises issued, at par, 60 $1,000, 8% bonds, each convertible into 100 shares of common stock. Pharoah had revenues of $18,800 and expenses other than interest and...
- Q I'm having trouble creating a Trial balance for my homework. For the month ended in January 31,2015 How can I put the information below in these 7 accounts? ...
- Q Ayayai Inc. manufactures cycling equipment. Recently, the vice president of operations of the company has requested construction of a new plant to meet the increasing demand for the companys bikes....
- Q WCC Corp. has a $175,000 net operating loss carryover into 2020. Assume that it reported $90,000 of taxable income in 2020 (before the net operating loss deduction) and...
- Q Calculate with FIFO principle the cost of use and the value of final stock Date Pieces Unit price...
- Q On September 30, 2020, the balance in Siakam Supplies Limiteds (SSL) accounts receivable account was $87,340 and the allowance for doubtful accounts had a credit balance of $5,500. SSL uses...
- Q Presented below is information related to Grinch Company for 2019: Retained earnings, December 31, 2018 Sales revenue Selling and administrative expenses Loss (pre-tax) on Discontinued Operations Cash dividends declared and...
- Q Brown Inc. Production budget for Product X for the year ended December 31 is as follows Product X Sales 640,000 Plus desired ending inv 85,000 total 725,000...
- Q Sale of Equipment Equipment was acquired at the beginning of the year at a cost of $36,000. The equipment was depreciated using the double-declining-balance method based on an estimated useful...
- Q Sigma, Inc., begins business on June 1 of year 1 and has a calendar-year end. Prior to the end of year 1, Sigma incurs $52,000 of organizational costs and $85,000...
- Q Western State University (WSU) is preparing its master budget for the upcoming academic year. Currently, 13,000 students are enrolled on campus; however, the admissions office is forecasting...
- Q You are an audits senior in firm of Chartered Accountants, Paterson and Co. It is February 20X7 and you are currently reviewing the draft financial statements of ABC Group which...
- Q Stock Percentage Rate of Return ...
- Q Sound Tek Inc. manufactures electronic stereo equipment. The manufacturing process includes printed circuit (PC) board assembly, final assembly, testing, and shipping. In the PC board assembly operation, a number of...
- Q Jess contributed a building ( FMV 250000, adjusted tax basis 300000in return for 200 shares of blue, Inc and 50000 cash. The transfers qualify under 351. JESS receipt of...
- Q Barney, an individual, and Aldrin, Inc., a domestic C corporation, have decided to form BA, LLC. The new LLC will produce a product that Barney recently developed and patented. Barney...
- Q BenBen Co. paid $ 190 to PeterPeter Co. and received a $ 12 purchases discount. Journalize the entry. Journalize the entry for BenBen Co. Assume the perpetual inventory system. (The...
- Q Universal Chemical Company uses oil to produce two types of plastic products, P1 and P2. Universal budgeted 29,400 barrels of oil for purchase in April for $74 per barrel. Direct...
- Q Bradly Carstens is the owner Carsten & Sons Plumbing. On 30 October 20.2 you are given the following information for Carsten & Sons Plumbing. ...
- Q At December 31, 2024, the financial statements of Hollingsworth Industries included the following: Net income for 2024 $ 610 million Bonds payable, 8%, convertible into...
- Q Green Company produces 100 parts per year, which are used in the assembly of one of its products. The unit product cost of these parts is: Variable manufacturing cost $12...
- Q The post-closing trial balance at 30 June 2020 of Payneham Professional Services is shown below. Transactions completed during the year ended 30 June 2021 are summarised below: 1. Collections on...
- Q The Froto Company began business on January 3rd, 2020, when they sold stock for $80,000. During 2020: On January 15th, Froto bought 1000 units of inventory at $20 each. On...
- Q 14. At the end of the current year, a company overstated prepaid insurance by $72,000 and understated supplies expense by $103,000. Its effective tax rate...
- Q In 2014, Parla Corporation sold land to its subsidiary, Sidd Corporation, for $38,000. It had a book value of $24,000. In the next year, Sidd sold the land for $41,000...
- Q 5. Pacheo Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 81 Units in beginning inventory 500 Units...
- Q Sandals Company is preparing the annual financial statements dated December 31. Ending inventory is presently recorded at its total cost of $5,465. Information about its inventory items follows: Product Line...
- Q Spartan Corporation, a U.S. company, manufactures widgets for sale in the United States and Europe. All manufacturing activities take place in the United States. During the current year, Spartan sold...
- Q Evelina fully assigned her contract rights in her real estate lease to Memunatu, but did not delegate to her the related duties to the landlord, Darryl, nor did Evelina or...
- Q The Medical Committee for Human Rights (Committee), a nonprofit corporation organized to advance concerns for human life, received a gift of shares of Dow Chemical (Dow) stock. Dow manufactured napalm,...
- Q Based on the anwser bellow, What is the value of materials in beginning inventory at the start of NEXT month for the current process department using weighted average? Weighted...
- Q Quatro Co. issues bonds dated January 1, 2015, with a par value of $730,000. The bonds annual contract rate is 12%, and interest is paid semiannually on June...
- Q Please help with following multiple questions: 1) Which of the following factors are important in determining whether an individual is required to file an income tax return? a. The taxpayer's...
- Q Question: FreshPak Corporation manufactures two types of cardboard boxes used in shipping canned food, frui... (2 bookmarks) FreshPak Corporation manufactures two types of cardboard boxes used in shipping canned food,...
- Q GENERAL INSTRUCTIONS FOR MAY Journalize the transactions listed below. Prepare an unadjusted trial balance. Prepare an adjusted trial balance. Prepare a schedule of accounts receivable. Prepare an income statement...
- Q License fees present challenging, although not necessarily consequential, issues of revenue recognition. Kyle Township charges residents $100 per year to license household pets. As specified in a statute enacted in...
- Q Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. ...
- Q Frogs, Inc. Part #2 Using Departmental Overhead Rates Goal: To compare plantwide and departmental overhead allocation methods. Information: Frogs, Inc. computes manufacturing overhead using either direct labor hours or direct...
- Q Financial data for Joel de Paris, Inc., for last year follow: Joel de Paris, Inc. Balance Sheet Beginning Balance Ending Balance...
- Q The following auditor's report was drafted by a staff accountant of Nathan and Matthew, CPAs, at the completion of the audit of the comparative financial statemetns of Monterey Partnership for...
- Q Case study 1 Empire Glass Works, manufactures and sells high quality glass bottles for industrial use. The company at present reports profits on marginal costing basis. However,...
- Q 1. New guidance from the American health police suggest that the UK governments recommended minimum of 30 minutes of gentle exercise a day is not sufficient to maintain basic fitness....
- Q Concord Corporation borrows $91,200 on July 1 from the bank by signing a $91,200, 7%, 1-year note payable. (a) Prepare the journal entry to record the proceeds of the note....
- Q Required information Use the following information for the Quick Study below. (Algo) Skip to question [The following information applies to the questions displayed below.] A comparative balance sheet...
- Q Journalize the transactions for the month of July, 2019, beginning on page GJ 1. Be sure and list the Debit Account(s) first; Credit Account(s) next. Be sure and write...
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